Mostrando recursos 1 - 6 de 6

Antonakakis, Nikolaos; Badinger, Harald
This paper considers the linkages between output growth and output volatility for the
sample of G7 countries over the period 1958M2-2011M7, thereby paying particular attention
to spillovers within and between countries. Using the VAR-based spillover index approach by
Diebold and Yilmaz (2012), we identify several empirical regularities: i) output growth and
volatility are highly intertwined, with spillovers taking place into all four directions; ii) the
importance of spillovers has increased after the mid 1980s and reached unprecedented levels
during the recent financial and economic crisis; iii) the US has been the largest transmitter
of output and volatility shocks to other countries. Generalized impulse response analyses
point to moderate...

Antonakakis, Nikolaos
This paper examines the synchronization of business cycles across the G7 countries during
US recessions since the 1870's. Using a dynamic measure of business cycle synchronization,
results depend on the globalisation period under consideration. On average, US recessions
have significantly positive effects on business cycle co-movements only in the period following
the breakdown of the Bretton Woods system of fixed exchange rates, while strongly decoupling effects among the G7 economies are documented during recessions that occurred under
the classical Gold Standard. During the 2007-2009 recession, business cycles co-movements
increased to unprecedented levels. (author's abstract)

Badinger, Harald; Nindl, Elisabeth
This paper presents new empirical evidence on the determinants of corruption, focussing
on the role of globalization and inequality. The estimates for a panel of 102
countries over the period 1995-2005 point to three main results: i) Detection technologies,
reflected in a high level of development, human capital, and political rights reduce
corruption, whereas natural resource rents increase corruption. ii) Globalization (in
terms of both trade and financial openness) has a negative effect on corruption, which
is more pronounced in developing countries. iii) Inequality increases corruption, and
once the role of inequality is accounted for, the impact of globalization on corruption
is halved. In line with recent theory,...

Badinger, Harald; Nindl, Elisabeth
This paper presents new empirical evidence on the determinants of corruption, focussing
on the role of globalization and inequality. The estimates for a panel of 102
countries over the period 1995-2005 point to three main results: i) Detection technologies,
reflected in a high level of development, human capital, and political rights reduce
corruption, whereas natural resource rents increase corruption. ii) Globalization (in
terms of both trade and financial openness) has a negative effect on corruption, which
is more pronounced in developing countries. iii) Inequality increases corruption, and
once the role of inequality is accounted for, the impact of globalization on corruption
is halved. In line with recent theory,...

Clougherty, Joseph A.; Gugler, Klaus; Sørgard, Lars
The existing literature concerning the impact of cross-border merger activity on domestic
wages can be split into two camps: 1) those focusing on positive 'spillover' effects; 2) those
focusing on negative 'bargaining' effects. Motivated in part by the lack of scholarship
spanning these two literatures, we provide a theoretical model that nests these two
mechanisms in one conceptual framework. From our theoretical model we are able to
predict that 'spillover' effects tend to be more dominant under low unionization rates, while
'bargaining' effects tend to be more dominant under high unionization rates; furthermore,
'spillover' effects tend to be more dominant with inward cross-border mergers, while
'bargaining' effects tend...